Interest rates expected to decline

This week, the International Monetary Fund (IMF) announced that it expects to see a sharp decline in interest rates in the coming months that will see them fall in line with pre-Covid levels.

The prediction would mean good news for potential homebuyers, who would take on less financial burden when purchasing a new property.

A number of large banks appear to have reduced their rates in line with this prediction. Nationwide has reduced product rates by 0.20% and Leeds by 0.35%. Virgin Monies has reduced core rates by 0.23% and Halifax has reduced all of its three year fixed rates.

The overall trend appears to be towards more manageable interest rates for property seekers, which previously saw a steep rise.

Charlotte Barber, Sales Manager at Allison Homes, said: “We are very encouraged by the recent news of falling interest rates. It’s great news for potential homebuyers as it means that the properties they want are more accessible to them.

“At Allison Homes, we care deeply about our buyers which is why we work closely with independent financial advisor Evolve Financial Solutions to keep a close eye on the market, and make expert advice available to our customers to help them understand what changes in the market mean for them.”

For free mortgage advice, call Evolve on 01473 603 211 or visit

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